Wheat futures climbed more than 1% to above $7 per bushel in late July, reaching their highest level since July 2023, as worsening geopolitical tensions and adverse weather conditions fueled supply concerns. President Trump warned that the US would hold Iran accountable for any further Houthi attacks after Yemen's Houthis said they had targeted two Saudi oil tankers for allegedly breaching their maritime blockade. The attacks, the first since the Iran-backed group announced a naval blockade against Saudi Arabia, heightened fears of broader disruptions to global energy and shipping routes. Adding support to wheat prices, intense heat weakened crop prospects in France and Germany. Moreover, EU grain output is forecast to decline by more than 9% this year, marking the sharpest annual contraction in more than two decades. Elsewhere, extreme temperatures across North Dakota, a key US spring wheat-producing state, have increased stress on crops and raised concerns over yield losses.

Wheat fell to 679 USd/Bu on July 24, 2026, down 2.48% from the previous day. Over the past month, Wheat's price has risen 14.89%, and is up 26.15% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Wheat reached an all time high of 1350 in March of 2022. Wheat - data, forecasts, historical chart - was last updated on July 25 of 2026.

Wheat fell to 679 USd/Bu on July 24, 2026, down 2.48% from the previous day. Over the past month, Wheat's price has risen 14.89%, and is up 26.15% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Wheat is expected to trade at 694.20 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 740.17 in 12 months time.



Price Day Month Year Date
Soybeans 1,246.75 9.25 0.75% 10.58% 24.83% Jul/24
Wheat 679.00 -17.25 -2.48% 14.89% 26.15% Jul/24
Lumber 654.52 -2.98 -0.45% 5.99% -2.89% Jul/24
Cheese 1.66 -0.0391 -2.30% 4.52% -5.63% Jul/24
Palm Oil 4,722.00 12.00 0.25% 3.62% 10.43% Jul/24
Milk 15.79 0.03 0.19% -1.50% -8.89% Jul/24
Cocoa 5,330.38 29.38 0.55% 1.59% -36.00% Jul/24
Cotton 79.89 -1.323 -1.63% 3.79% 19.26% Jul/24
Rubber 219.30 0.90 0.41% 4.03% 26.32% Jul/24
Orange Juice 142.64 -4.16 -2.83% 0.31% -55.75% Jul/24
Coffee 314.09 4.69 1.51% 13.64% 5.56% Jul/24
Oat 327.51 -4.9891 -1.50% 19.64% -9.53% Jul/24
Wool 1,873.00 0 0% -3.60% 51.17% Jul/24
Rice 13.99 -0.1400 -0.99% 7.82% 10.90% Jul/24
Canola 823.63 -12.27 -1.47% 10.16% 17.53% Jul/24
Sugar 14.76 0.07 0.48% 4.68% -9.39% Jul/24
Corn 464.00 0 0% 11.87% 16.15% Jul/24



Related Last Previous Unit Reference
United States Corn Stocks 5.29 9.02 Billion Bushels Jun 2026
United States Soybean Stocks 1.06 2.10 Billion Bushels Jun 2026
United States Wheat Stocks 0.92 1.30 Billion Bushels Jun 2026

Wheat
Wheat is one of the most important staple crops globally, serving as a key source of food for human consumption and animal feed. Its prices are closely monitored due to their impact on food security, inflation, and global trade flows. Wheat futures are traded on major exchanges, including the Chicago Board of Trade (CBOT), Euronext, Kansas City Board of Trade (KCBT), and the Minneapolis Grain Exchange (MGEX). Standard contracts typically represent 5,000 bushels. On the supply side, China, India, Russia, the United States, France, Australia, and Canada are among the largest producers globally. Russia is the leading exporter, followed by the United States, Canada, France, Ukraine, Australia, and Argentina. Prior to the Russian invasion of Ukraine, Russia and Ukraine together accounted for a significant share of global wheat exports. Wheat prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
679.00 696.25 1350.00 212.50 1977 - 2026 USd/BU Daily

News Stream
Wheat is down by 5%
Wheat decreased 5% to 661.47 USd/Bu
2026-07-24
Wheat Futures Hit 3-Year High
Wheat futures climbed more than 1% to above $7 per bushel in late July, reaching their highest level since July 2023, as worsening geopolitical tensions and adverse weather conditions fueled supply concerns. President Trump warned that the US would hold Iran accountable for any further Houthi attacks after Yemen's Houthis said they had targeted two Saudi oil tankers for allegedly breaching their maritime blockade. The attacks, the first since the Iran-backed group announced a naval blockade against Saudi Arabia, heightened fears of broader disruptions to global energy and shipping routes. Adding support to wheat prices, intense heat weakened crop prospects in France and Germany. Moreover, EU grain output is forecast to decline by more than 9% this year, marking the sharpest annual contraction in more than two decades. Elsewhere, extreme temperatures across North Dakota, a key US spring wheat-producing state, have increased stress on crops and raised concerns over yield losses.
2026-07-24
Wheat Returns to Over 2-Year High
Wheat futures climbed to around $7.0 per bushel in late July, returning to their highest level since May 20, 2024, as worsening Black Sea tensions and deteriorating crop prospects fueled supply concerns. Russia restricted access to certain Sea of Azov and Kavkaz ports while continuing strikes on Ukrainian port infrastructure, as Ukraine launched drone attacks on warehouses operated by Wildberries. The escalating tensions heightened concerns over grain shipments through the Black Sea, a critical export corridor for two of the world's largest wheat exporters. Further supporting prices, SovEcon reduced its forecast for Russia's 2026/27 wheat harvest by 0.7%, citing lower yield expectations in southern regions and reduced spring wheat acreage. Elsewhere, France's soft wheat production is expected to drop 7.6% this year following heat-wave damage, while US spring wheat conditions deteriorated, with the good-to-excellent rating falling five percentage points from a week earlier.
2026-07-22